S&P 500 Posts Its First Two-Week Losses Since June: Markets Wrap
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(Bloomberg) — Wall Street ended a jittery week on a relatively quiet note, with stock traders digesting the rally of the past two days in the run-up to the Federal Reserve decision and the start of the big-tech earnings season.
Swiss Finance Minister Opposed to AT1 Compromise for UBS
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(Bloomberg) — Switzerland’s finance minister says she opposes a compromise proposal floated by lawmakers as part of the debate about new capital requirements for UBS Group AG, dashing hopes her stance had softened on the issue.
In Trump v. Dimon, Years of Strain Culminate in $5 Billion Suit
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(Bloomberg) — JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon was heading home after another whirlwind trip to Davos, when the news hit: President Donald Trump was suing him and his bank for $5 billion.
Trump Says Good Meeting With Zelenskiy, Calls for War End
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(Bloomberg) — Donald Trump said he had a “good” meeting with Ukrainian President Volodymyr Zelenskiy in Davos and expressed renewed hope the war Russia has started four years ago is going to end.
US Walks Away From WHO Leaving Unpaid Tab of About $260 Million
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(Bloomberg) — One year after President Donald Trump ordered the US to withdraw from the World Health Organization, the process was formally completed Thursday, though the nation is leaving behind unpaid debt of roughly $260 million.
Stocks Climb on Solid Data as Global Tensions Cool: Markets Wrap
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(Bloomberg) — The cooling of geopolitical tensions, a rally in big tech and solid economic data fueled gains in stocks, with the market remaining higher after an in-line inflation report. Short-dated bonds fell.
Nestlé Begins Water Unit Sale, Banks Prep Up to €3 Billion Debt
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(Bloomberg) — Nestlé SA is forging ahead with the sale of a stake in its €5 billion ($5.8 billion) water business, which includes the well-known brands Perrier and S.Pellegrino, people familiar with the matter said.
Stifel CEO Praises Trump’s Style as Effective, ‘Art of the Deal’
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(Bloomberg) — US President Donald Trump’s approach to Greenland at the World Economic Forum in Davos has been “effective” and led to a speedy resolution, according to Stifel Financial Corp. Chief Executive Officer Ron Kruszewski.
Nasdaq’s Friedman Says Returns Are Driving Flows Into US Markets
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(Bloomberg) — Companies from around the world remain focused on American markets, driven by the money they’re getting out of the US, Nasdaq Inc. Chief Executive Officer Adena Friedman said.
Musk, Davos’ Most High-Profile Hater, to Make First Appearance
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(Bloomberg) — Billionaire Elon Musk is going to the World Economic Forum in Davos for the first time, after years of trading barbs with the organizers of the annual gathering of plutocrats.
Ray Dalio Sees Ongoing Diversification Away From US Assets
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(Bloomberg) — There’s been an ongoing general diversification away from US assets, especially by global central banks, according to Ray Dalio, the founder of hedge fund firm Bridgewater Associates.
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(Bloomberg) — Beazley Plc has rejected Zurich Insurance Group AG’s £7.7 billion ($10.3 billion) takeover approach, the latest twist in the Swiss giant’s attempt to acquire the UK specialty insurer.
Stocks Surge on Trump’s Claim of Deal on Greenland: Markets Wrap
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(Bloomberg) — Speculative spirits were restored on Wall Street, fueled by hopes for a solution in Donald Trump’s ambitions for Greenland that would avoid tariffs. Stocks and bonds climbed and gold’s rally cooled as the president claimed a framework of a deal with NATO.
Oil Ticks Up as Trump Cites ‘Framework’ for Greenland Deal
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(Bloomberg) — Oil edged higher as traders assessed US President Donald Trump’s statement that the US had reached a “framework” for a deal on Greenland.
BNY CEO Says Shaking Fed’s Foundation Hurts Push for Lower Rates
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(Bloomberg) — Bank of New York Mellon Corp. Chief Executive Officer Robin Vince said the recent attacks on the Federal Reserve’s independence aren’t helpful for keeping interest rates low.
Trump Arrives in Zurich; Davos Speech Set to Start on Time
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(Bloomberg) — President Donald Trump arrived in Switzerland to attend the World Economic Forum and is set to deliver his speech at its scheduled time despite his flight being delayed by a mechanical issue.
Larry Fink Ponders Moving WEF Meetings From Davos to Dublin or Detroit
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(Bloomberg) — Larry Fink, the interim co-chief of the World Economic Forum, is openly musing about a venue change for the flagship event that would take the annual January meeting outside of Switzerland.
S. Africa Inflation Ticks Up, Benign Outlook Backs Rate Cut
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(Bloomberg) — South African inflation edged up slightly in December, but that’s unlikely to deter the central bank from cutting interest rates next week, as pricing pressures are expected to remain benign.
RBC Looking at China, Middle East to Diversify, CEO McKay Says
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(Bloomberg) — Royal Bank of Canada is looking at China and the Middle East as it diversifies its markets in the face of the geopolitical turmoil sparked by US President Donald Trump’s tariff policies and threats to take over Greenland.
Tainted Formula Crisis Deepens to Include Danone, Lactalis
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(Bloomberg) — A tainted infant formula crisis that started with Nestlé SA is deepening globally with French manufacturers Danone SA and Groupe Lactalis pulling products potentially contaminated with a toxin.
